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Skybridge CEO Anthony Scaramucci Says BTC Can Hit $100k by Year End

UTC by Oluwapelumi Adejumo · 3 min read
Skybridge CEO Anthony Scaramucci Says BTC Can Hit $100k by Year End
Photo: Wikimedia Commons

Scaramucci noted that the crypto king was growing faster than big tech companies like Facebook, Amazon, Google and others.

While Bitcoin recently witnessed a major price correction that saw its value lose over 50 percent in May. Many market players and analysts retain the belief that the potential value of the asset for this year remains in the six-figure line. One of such believers is the CEO and founder of SkyBridge Capital, Anthony Scaramucci, who in a recent interview declared that BTC could still reach $100,000 before the end of this year. According to him, the increasing monthly demand for the coin would push it above his projection.

Scaramucci declared that the fact that BTC has a finite supply, coupled with the growing demands, would push its value higher. In his words “the bottom line is you have the limited and fixed supply of Bitcoin and you have every month exponentially more demand,” he continued that “as long as I see that, I see those prices rising. So, we’re going to stick with the $100,000 price target.”

The asset manager also revealed that his firm’s SkyBridge Capital’s first BTC fund which started last year already holds around $700 million worth of digital asset across their portfolio. This is a major milestone considering the fact that the firm’s CEO was previously a skeptic about the promises held by the coin. However, ever since he became a convert and a believer in the asset, he has spoken glowingly about it.

In another of his statements, Scaramucci noted that the crypto king was growing faster than big tech companies like Facebook, Amazon, Google, etc. and has postulated that the coin would get as many as 1 billion users by 2025.

Per his statement, he highlighted that Bitcoin is the future. He says that “this is a technology and a product of the future, and the future is going to come more quickly than people expect.”

Bitcoin’s Continued Growth

Anthony Scaramucci is not the only believer in BTC, quite a number of people have also been vocal with their backing for the asset.

Notable amongst those names include Twitter’s Jack Dorsey who has listed several ideas on how he wants to further develop Bitcoin ecosystem. Apart from that, one of his companies, Square, holds the digital asset on its balance sheet and is also working on developing a hardware wallet for the popular cryptocurrency.

Apart from Dorsey, another firm believer in the coin is Michael Saylor from Microstrategy. As of press time, the US-based company holds over $2 billion worth of the digital asset and the company has promised to continue acquiring the coin.

Bitcoin News, Cryptocurrency news, News
Oluwapelumi Adejumo

Oluwapelumi is a believer in the transformative power Bitcoin and Blockchain industry holds. He is interested in sharing knowledge and ideas. When he is not writing, he is looking to meet new people and trying out new things.

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